Home Equity Loan
Refinance Home Equity Loan Knowledge Base
Home equity loan or refinance existing home loan? My husband and I are looking into a home equity loan or refinancing our existing home loan. We own a doublewide on 4 1/2 acres that has been converted to real property. Which is better? A home equity loan, or refinance our existing loan? Where do we start? What should we know? And what we should be careful of?
How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure? The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan for that 10k? I need to make repairs as it is a foreclosure in poor condition. Can I do a refinance loan and get more than I even paid for it if it appraises higher than 10k, which it will? Thanks for any help
Is it possible to refinance a home equity loan to be able to get a lower rate? Just wondering if anyone had any information about being able to refinance a home equity loan to receive a lower rate and if so, how to go about doing that.
Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)? Consider this: 1. I have $30k in credit card debt. 2. I have a 1st mortgage for $200k (4%) and a Home Equity line of $170k (at prime rate) with no additional credit available. 3. I am buying another house at the end of April. Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is? I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true? Thoughts? Opinions? Alternatives?
can you refinance a home equity loan to lower the payments? My mother signed a home equity loan with my grandfather who has just passed, and I am trying to help her pay the bills but the payment on the house is too high. If she refinances could her payment go down? Are there any other options, or any kind of loans or help from anywhere? I am totally clueless this was very unexpected.
Is it a refinance or home equity loan? I bought a house 6 months ago before I sold my condo. I borrowed the money from my brother for the new home until the condo sold. I have a written contract and have been paying interest. He is starting to get nervous, so I would like to take out a mortgage for the home to pay him back. Would this be a refinance or a home equity loan? Also, when the condo sells, I expect to still have a mortgage of about $40,000. Assuming I take out a new mortgage now on the house, when I pay 3/4ths of the loan amount off in one lump sum, will my monthly payments decrease or will the monthly payment amount stay the same, but the loan be paid off more quickly?
Smartest way to pay debt refinance, home equity loan or a payment plan?? I have debt totaling 30,000. I own a home in which I have over 150k equity in. I want to pay this debt once and for all. What would be the smartest way to do this? Should I refinance, take a home equity loan or set up a payment plan? My mortgage rate is 5.375 so refinancing would put me into a new higher rate since rates have gone up. I also have access to $10,000 in my 401k that I could borrow. I just want to make the right decision here. Any help would be great! Thanks.
What would be better, a home equity loan or refinance at lower rate to add on to my home? I'm wanting to add on to my home but I've never used a home equity loan. I have used the refinance method where you borrow a little extra to add on. What would be the best now, with the way the economy is and the interest rates unstable?
What is better, debt consolidation loan, home refinance or home equity loan? My husband and I want to pay off some credit card debt; which is the better option?
Home Loan and Home Equity Loan Refinance question? If you have a home loan and a home equity loan, if you refinance can you roll the two into one or do you always have to keep the two seperate?
if i take out a home equity loan now will this loan affect me if i want to refinance my mortgage.? I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year i may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if i am not looking for any cash out.
If you were going to borrow $10,000.00 and your choices were to charge, refinance or Home Equity Loan? I admit it numbers make my head hurt, so I could probally figure the difference in Excel but I would rather ask a numbers person. I can charge $10,000.00 with a convenience check at 5%, or refinance my house (plenty of equity) 7.5% or home equity loan at 7.50%. I want to be able to this loan off in 30 to 60 months. Where would the less finance charges by paid? Thanks for your help :)
Sell, Refinance, or Home Equity Loan? I am seem to be swiming in debt at this time in my life...I would like to secure some money to help me pay off some bills.. I have equity in my house. Is it best to refinance this high interest loan, sell the home and use the profits to pay my bills, or take out a home equity loan? My first instinct is to stay in the house for a few more years beacuse this area is increasing in value.. How safe are home equity loans? Is refinancing wise with poor credit?
Refinance or home equity loan? I have about $20,000 worth of equity in my rental property and I would like to pay off approx $15,000 of lingering dept so I can just have no outgoing bills and just pay the house payment that the tennants are paying already and no bills. I am confused at what would be the best way for me to go either refinance or home equity loan or a home equity line of credit? My credit score is about 650. thank you for the help
My tax value on my home has increased. Should I refinance my first loan and add the home equity loan? We relocated and purchased our home about a year and 7 months ago in an area that was more expensive than we were coming from. The purchase price was $239,000, we put down $14,000, and took a home equity loan of $34,000 to finance the rest of the purchase price and to avoid PMI. I recently submitted a question about whether or not to start paying down the first mortgage or the home equity loan, and got great advice, but I am wondering now that my tax value of my home has increased in January from $200,000 to $279,000 due to reassessment, (I know it wouldn't sell for that now because we recently had comparables done in January), would I save money by refinancing my first mortgage and adding in the home equity loan so the total amount has a lower interest rate? My husband thinks we have to wait 2 years before we can refinance, and I'm not sure about that, but that would be this July. My goal is to pay off our house as soon as possible.
refinance, home equity loan or sell? We have credit card debt of $72k. (cancer treatment costs) We have excellent credit and own two homes, but are cash poor and have the high credit card debt that we want to pay off WE WANT TO PAY OFF THE $72K AND HAVE A CUSHION OF AT LEAST $25K. Here is the break-down: HOME #1 PAYOFF - $279K, WORTH $425K (currently rented covering payments) HOME #2 PAYOFF - $245K, WORTH $425K(currently live in but want sell and leave the area in the next year or two) SELL A HOUSE AND PAY OFF DEBT, LEAVING CASH IN THE BANK OR KEEP GREAT REAL ESTATE INVESTMENTS AND GET A LOAN OF $100K, PAY OFF DEBT LEAVING $28 CASH IN BANK. We just can't wait another year or two to pay off the credit card debt because we are broke each month after paying bills, and need some relief now. Both homes are in hot markets. Dallas/Ft Worth & White Mountains Arizona. Any ideas or help are much appreciated!!
Just wondering, can one have a home equity loan, and still refinance their 1st mortgage? Thank you? We made some bad decisions and need to pay of some debt, a home equity loan would help and lower the combined payments, but we are also looking to refi in another 3-6 months, but there is no way we can pay of the largest chunk of our debt before then.
Should i refinance my home or process a home equity loan to borrow money? I would like to borrow money from my home (175k balance due and 800k value) to pay off another home of mine. San Jose, CA
Credit is good I have an investment property that is paid in full should I refinance or get home equity loan.? I want to consolidate my credit card bills and use some of the cash for more property. I want to consolidate my bills and use some of the cash to purchase additional properties.
Refinance my mortgage and home equity loan? I have started the process of refinancing my home equity loan from 9% to a lower rate. It currently has a balance of $10K. I have also started the process of refinancing my home mortgage from 6.8 to around 5 something hopefully. It has a balance of $54k with 10 years to go on the current loan. I was originally thinking of just refinancing the mortgage with a 10 year payment period without taking out any additional moneys. Question: Should I refinance my mortgage, taking out enough to also pay off my home equity loan as well? Thanks
My tax value on my home has increase. Should I refinance my first home and add the home equity loan? I left off the following information about my previous question. The first mortgage of $190,000 has a fixed rate of 5.375% and the home equity loan in the amount of $35,000 has a variable interest rate currently at 12.13%. Please see my earlier question for more details. Thanks so much for your help!!!! I want to pay my house off as fast as I can!
Refinance or Home Equity Loan? I am 12 years into a 30 year mortgage.? I have racked up some debt ($25,000) and need to pay it off. Which option makes more sense?
Which would be better for us, taking out a home equity loan or refinancing? My husband and I want to take about $15,000 to pay off debt and renovate our home, which we just purchased last July. Our current interest rate is 7.25% and we owe about 65k on our home that appraised at 100k. The problem is that our credit is not great and not well established. Which would be the best option for us, home equity loan or refinance?
What is the different between loan,refinancing,home equity? I want to know which loan is really the best. I want to borrow about $120 gran but after looking at all the charges that loan in 30yrs will cost me $350gran, that doesn't sound right to me.
Home Equity Loan or Cash Out Refinance? Any one know whats the difference and the pro and cons about Home Equity Loan and Cash Out Refinance? Which is better?
Is it better to refinance or get a home equity loan? We have owned our home for 2 years.? Due to family health issues my husband and I have missed a bit of work over the past 9 months. Because of this a few of our credit card payments were missed and we have fallen quite behind. We are now both back to work full time and are making arrangements with our creditors to try to lower our monthly payments. I have not contacted our mortgage company yet to see what they offer because I am not savvy enought to know the difference. In this situation, which would be better?
I have a home equity loan I want to ditch. Can I use an FHA loan to refinance both my mortgages? Depending on what the appraisal comes back at, I might be really close to owing as much as it's worth. Can an FHA mortgage be used for this? I'm looking for more information on how FHA loans work. Can I use FHA to refinance? If so, are there any limits on how much I can borrow against my house? Is FHA a pain in the rear to process? Forget I said anything about equity for now. I just want to know if this is doable.
Is it better to refinance or take out a home equity loan? My 1st mortgage has a fixed interest rate and a 2nd mortgage that is a Line of Credit with a variable interest. I don't need more cash I just want to get rid of the second mortgage w/ variable rate !!
How good of a company is Countrywide for refinancing and home equity loan? I AM LOOKING TO REFINACE MY HOUSE AND TRYING TO TAKE SOME CASH OUT BUT DONT KNOW WHICH COMPANY TO GO WITH.
Share ideas on refinancing 2nd loan Home Equity Line of Credit? Existing mortgage: 80-20. No equity. 1 year since purchase. 2nd loan home equity line of credit has variable APR. Please share ideas to refinance 2nd loan and also consolidate other loan.
Is it possible to refinance your mortgage or get a home equity loan if you have been in your house for 6 month I want to see if I can lower my monthly payments.
Paid off 1st mortgage. Owe 90000 on a 2nd mortgage/home equity loan. Should I pursue a new loan to refinance? I am 46 years old. My husband is 50 years old. The rate is 9.25%.
We owe 73,00 on our house and it is worth 120,000. Is it better to Refinance or Get Home Equity Loan? We have a baby on the way and are trying to get out of credit card debt... and I will not be working for a while.. So we have to make it on one income.
Has anyone refinanced a home loan with negative equity? If so, how? I have a 80/20 loan that I want to refinance to a 30 year fixed loan. I have been told by a broker that it is impossible without some equity in my home. My mortgage is more than my home value. Am I stuck? or Whats my options?
Is it a good idea to refinance? Also, I would like to include our home equity loan if that is a possibility? We have only had our mortgage for 3 years now.
Which would be better...to refinance w/cash out or a home equity loan? Here's the info. We want to put an addition onto our home. We purchased it new in 2002 for $119,000 and we borrowed $26,000 on our original loan which is a 5/1 ARM. In our current market area, our home would sell for between $150K and $160K. We will need $50K to do the addition. Which is the best route for us: to refinance and get the $50K or get a home equity loan or home equity Line-of-Credit? It's all confusing and I know there are pros and cons to each product. HELP!!!! Thanks in advance! Sorry Frazure, but my debt load is minimal and my credit score is excellent...take your advertisment elsewhere.
Should I refinance to roll my first mortgage and home equity loan together? First mortgage balance is $115,000 5.75%, 5th year into 30 year mortgage. Home equity loan taken out last year for addition to home for $43,000 8.0%, 15 year mortgage
Home Equity Refinance? Can you refinance a home equity loan to get a lower interest rate?
How can you refinance a home loan with a NEGATIVE equity? Adjustable rate has taken our mortgage payment from $1,800 per month to $3,000!
Refinancing my mortgage and home equity loan? I have started the process of refinancing my home equity loan from 9% to a lower rate. It currently has a balance of $10K. I have also started the process of refinancing my home mortgage from 6.8 to around 5 something hopefully. It has a balance of $54k with 10 years to go on the current loan. I was originally thinking of just refinancing the mortgage with a 10 year payment period without taking out any additional moneys. Question: Should I refinance my mortgage, taking out enough to also pay off my home equity loan as well? Thanks in advance for
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